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HIMS (Hims & Hers Health) Beneish M-Score : -3.16 (As of Jul. 19, 2025)


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What is Hims & Hers Health Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Hims & Hers Health's Beneish M-Score or its related term are showing as below:

HIMS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.27   Med: -3.01   Max: 6.39
Current: -3.16

During the past 6 years, the highest Beneish M-Score of Hims & Hers Health was 6.39. The lowest was -3.27. And the median was -3.01.


Hims & Hers Health Beneish M-Score Historical Data

The historical data trend for Hims & Hers Health's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Hims & Hers Health Beneish M-Score Chart

Hims & Hers Health Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial - 1.34 -2.48 -2.95 -3.27

Hims & Hers Health Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.02 -3.13 -3.00 -3.27 -3.16

Competitive Comparison of Hims & Hers Health's Beneish M-Score

For the Household & Personal Products subindustry, Hims & Hers Health's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Hims & Hers Health's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Hims & Hers Health's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hims & Hers Health's Beneish M-Score falls into.


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Hims & Hers Health Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Hims & Hers Health for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.583+0.528 * 1.0696+0.404 * 0.8786+0.892 * 1.8599+0.115 * 1.6668
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8423+4.679 * -0.201688-0.327 * 1.6492
=-3.16

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was $7 Mil.
Revenue was 586.01 + 481.139 + 401.556 + 315.648 = $1,784 Mil.
Gross Profit was 430.689 + 369.541 + 317.886 + 256.613 = $1,375 Mil.
Total Current Assets was $447 Mil.
Total Assets was $892 Mil.
Property, Plant and Equipment(Net PPE) was $218 Mil.
Depreciation, Depletion and Amortization(DDA) was $22 Mil.
Selling, General, & Admin. Expense(SGA) was $961 Mil.
Total Current Liabilities was $280 Mil.
Long-Term Debt & Capital Lease Obligation was $60 Mil.
Net Income was 49.485 + 26.025 + 75.588 + 13.297 = $164 Mil.
Non Operating Income was 2.598 + 3.695 + 1.219 + 2.394 = $10 Mil.
Cash Flow from Operations was 109.09 + 86.385 + 85.267 + 53.594 = $334 Mil.
Total Receivables was $6 Mil.
Revenue was 278.171 + 246.619 + 226.699 + 207.912 = $959 Mil.
Gross Profit was 229.095 + 204.058 + 187.308 + 170.158 = $791 Mil.
Total Current Assets was $262 Mil.
Total Assets was $448 Mil.
Property, Plant and Equipment(Net PPE) was $57 Mil.
Depreciation, Depletion and Amortization(DDA) was $10 Mil.
Selling, General, & Admin. Expense(SGA) was $614 Mil.
Total Current Liabilities was $93 Mil.
Long-Term Debt & Capital Lease Obligation was $10 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(6.944 / 1784.353) / (6.405 / 959.401)
=0.003892 / 0.006676
=0.583

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(790.619 / 959.401) / (1374.729 / 1784.353)
=0.824076 / 0.770436
=1.0696

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (446.964 + 217.905) / 891.711) / (1 - (261.734 + 56.634) / 448.106)
=0.25439 / 0.289525
=0.8786

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=1784.353 / 959.401
=1.8599

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(10.399 / (10.399 + 56.634)) / (22.363 / (22.363 + 217.905))
=0.155133 / 0.093075
=1.6668

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(961.335 / 1784.353) / (613.681 / 959.401)
=0.538758 / 0.63965
=0.8423

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((59.648 + 280.362) / 891.711) / ((10.279 + 93.324) / 448.106)
=0.381301 / 0.231202
=1.6492

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(164.395 - 9.906 - 334.336) / 891.711
=-0.201688

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Hims & Hers Health has a M-score of -3.16 suggests that the company is unlikely to be a manipulator.


Hims & Hers Health Beneish M-Score Related Terms

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Hims & Hers Health Business Description

Traded in Other Exchanges
Address
2269 Chestnut Street, Suite 523, San Francisco, CA, USA, 94123
Hims & Hers Health Inc is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling them to access high-quality medical care for numerous conditions related to mental health, sexual health, dermatology, haircare and more.
Executives
Soleil Boughton officer: See Remarks 2269 CHESTNUT STREET, #523, SAN FRANCISCO CA 94123
Irene Becklund officer: Interim PFO/PAO 2269 CHESTNUT ST., #523, SAN FRANCISCO CA 94123
Andrew Dudum director, 10 percent owner, officer: Chief Executive Officer 2269 CHESTNUT STREET, #523, SAN FRANCISCO CA 94123
Oluyemi Okupe officer: Chief Financial Officer 2269 CHESTNUT ST., #523, SAN FRANCISCO CA 94123
Melissa Baird officer: Chief Operating Officer 2269 CHESTNUT STREET, #523, SAN FRANCISCO CA 94123
Patrick Harrison Carroll officer: Chief Medicall Officer 2269 CHESTNUT STREET, # 523, SAN FRANCISCO CA 94123
Christiane Pendarvis director 2269 CHESTNUT ST., #523, SAN FRANCISCO CA 94123
Michael Chi officer: Chief Marketing Officer 2269 CHESTNUT ST., #523, SAN FRANCISCO CA 94123
David B Wells director C/O NETFLIX, INC., 100 WINCHESTER CIRCLE, LOS GATOS CA 95130
Lynne Chou O'keefe director 2269 CHESTNUT STREET, #523, SAN FRANCISCO CA 94123
Alex Bard director 2269 CHESTNUT STREET, #523, SAN FRANCISCO CA 94123
Ivp Executive Fund Xvi, Llc 10 percent owner 3000 SAND HILL ROAD, BUILDING 2, SUITE 2, MENLO PARK CA 94025
Jules A. Maltz director 3000 SAND HILL ROAD, BUILDING 2, SUITE 250, MENLO PARK CA 94025
Somesh Dash 10 percent owner 3000 SAND HILL ROAD, BUILDING 2, SUITE 250, MENLO PARK CA 94025
Jack Abraham 10 percent owner 1 LETTERMAN DRIVE, SUITE C3500, SAN FRANCISCO CA 94129